Haverford Trust Co Takes Position in AbbVie Inc. $ABBV

Key Points

• Haverford Trust initiated an AbbVie position by purchasing 80,847 shares worth approximately $20.3 million in the second quarter. Institutional investors collectively own 70.23% of AbbVie.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $275.95; recent targets range from $247 to $300.
• AbbVie exceeded quarterly expectations with $3.65 in EPS and $16.99 billion in revenue, while shares opened at $261.50. The company also paid a quarterly dividend of $1.73, representing a 2.6% yield.

Haverford Trust Co bought a new position in AbbVie Inc. (NYSE:ABBV - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 80,847 shares of the company's stock, valued at approximately $20,344,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its position in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of AbbVie by 5.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock valued at $3,056,000 after purchasing an additional 789 shares in the last quarter. Ieq Capital LLC grew its holdings in shares of AbbVie by 4.6% in the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company's stock worth $22,281,000 after purchasing an additional 5,274 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased its position in shares of AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company's stock worth $210,685,000 after purchasing an additional 612,702 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 5th. Guggenheim increased their price target on AbbVie from $261.00 to $288.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. HSBC reaffirmed a "buy" rating and set a $300.00 price target on shares of AbbVie in a report on Monday, July 6th. Weiss Ratings upgraded AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, August 4th. Finally, BNP Paribas Exane raised their target price on AbbVie from $218.00 to $247.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $275.95.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the completion of the sale, the executive vice president directly owned 74,430 shares of the company's stock, valued at $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

AbbVie Stock Performance

Shares of ABBV opened at $261.50 on Thursday. The business's fifty day moving average price is $254.23 and its two-hundred day moving average price is $229.67. The firm has a market capitalization of $462.02 billion, a price-to-earnings ratio of 73.87, a PEG ratio of 1.18 and a beta of 0.29. AbbVie Inc. has a 52 week low of $190.75 and a 52 week high of $267.47.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.04. The business had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, research analysts forecast that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were paid a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, July 15th. AbbVie's dividend payout ratio (DPR) is 195.48%.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie's product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women's health.

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